Peer-to-peer voice-based payments are becoming more widely used, and this is what is anticipated to fuel market expansion over the course of the projected year. Several banks, including Barclays and Royal Bank of Canada, among others, have begun providing their clients with voice-enabled peer-to-peer payments. Customers of Barclays can use Siri, a virtual assistant included in Apple Inc.'s operating systems, to conduct voice-based payments. Similar to Apple Pay, Google Pay users can conduct peer-to-peer transactions with voice commands on Google Assistant.
Due to the significant development and use of voice-related technologies, digital voice assistants like Apple's Siri and Amazon's Alexa have become a common phenomenon. These speech assistants are gradually taking over our homes and giving us voice control over anything from weather checking to music streaming to home automation! The widespread use of these voice bots is also accelerating the transition toward integration in the payments and banking industries, which was unimaginable ten years ago.
Segmental Analysis of Global Voice-based Payment Market:
Based on Component
- Software
- Hardware
The software segment will dominate the market in context to revenue donation because of the speedy introduction of voice payment software by prominent market leaders.
Based on Enterprise
- Large Enterprise
- Small Medium Enterprises
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Top Key Players:-
- Amazon
- PayPal
- Paysafe
- PCI Pal
- Vibepay
- Baidu Inc.
- Cerence Inc.
- Google LLC
- Huawei Technologies Co., Ltd
- LumenVox LLC
- Nuance Communications
- ToneTag Inc.
- Voxpay
- Microchip Payments
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